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News about Royal Orchid Hotels Limited

March 22nd, 2007

NSE Press Release

The media had reports on March 20, 2007, that Royal Orchid Hotels Limited plans to set up a chain of budget hotels called Pepper Mint and also form a fully owned subsidiary, AB Holdings, to manage the same business.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Royal Orchid Hotels Limited has vide its letter inter-alia stated, “Royal Orchid Hotels Limited is planning to target the lower end of the hospitality pyramid with a chain of budget hotels called Pepper Mint. A B Holdings Private Limited, the fully owned subsidiary of the company will manage the budget hotel business of the hospitality chain.”

Entry Filed under: Equities, NSE, Hotels & Hospitality